Listen to a Business English Dialogue about Waiver of premium
Arthur: Hi Ella, have you heard of a waiver of premium?
Ella: No, what is it?
Arthur: A waiver of premium is an insurance provision that allows policyholders to stop paying premiums if they become disabled or unable to work due to illness or injury.
Ella: Oh, so it’s like a safety net for policyholders if they can’t afford to pay premiums anymore?
Arthur: Exactly. It helps ensure that their insurance coverage remains in force during times of financial hardship.
Ella: That sounds helpful. Are there any eligibility requirements for a waiver of premium?
Arthur: Yes, typically, policyholders need to provide proof of disability or inability to work as specified in the insurance contract.
Ella: I see. So, how does a waiver of premium benefit policyholders?
Arthur: A waiver of premium provides peace of mind, knowing that their insurance coverage will continue even if they are unable to work and pay premiums.
Ella: Thanks for explaining, Arthur. A waiver of premium seems like an important feature for insurance policies.
Arthur: No problem, Ella. It’s a valuable protection that can provide financial security during challenging times.
